Divine Ltd
Divine Ltd is a retailer of computer accessories. The entity applies the perpetual inventory system. On January they had units in stock costing Runit
tableDateJan units purchased at R eachJan unitsaold at R eachJan units purchased at R eachJan units bought on the returned to supplierJan units sold at R eachJan units bought at R eachJan units sold at R each
Required
Use the First in First Out Method to determine the gross profit for the period
Marks
Note: Use the following template to present your inventory cost card details Inventory Stock Card January
tableDatePurchases,Cost of Sales,Balance units R R Units
